{"id":331078,"date":"2026-03-06T00:06:10","date_gmt":"2026-03-06T00:06:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/331078\/"},"modified":"2026-03-06T00:06:10","modified_gmt":"2026-03-06T00:06:10","slug":"marvell-projects-strong-fiscal-2028-revenue-on-ai-driven-data-center-boom-shares-jump","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/331078\/","title":{"rendered":"Marvell projects strong fiscal 2028 revenue on AI-driven data center boom, shares jump"},"content":{"rendered":"\n

By Jaspreet Singh<\/p>\n

March 5 (Reuters) – Marvell Technology forecast fiscal 2028 revenue above Wall Street estimates on Thursday, signaling robust demand for custom chips and interconnect solutions used in artificial intelligence data \u200ccenters, sending its shares surging 15% in extended trading.<\/p>\n

Growing adoption of AI tools<\/a> has boosted demand for \u200cspecialized chips such as Marvell’s custom application-specific integrated circuits used in advanced data centers, as well as its interconnect technologies that enable \u200bhigh-speed data transfer between processors, memory and servers.<\/p>\n

Big Tech firms including Alphabet, Microsoft<\/a>, Amazon and Meta are expected to spend at least $630 billion to build AI infrastructure this year, lifting demand for chips used in servers and networking equipment from companies such as Marvell.<\/p>\n

Marvell expects revenue to grow nearly 40% and approach $15 billion in fiscal 2028, above analysts’ average estimate \u200cof $12.92 billion, according to data compiled by \u2060LSEG.<\/p>\n

The company also raised its fiscal 2027 revenue forecast to grow more than 30% year over year, nearing $11 billion, compared with its earlier expectations of about $10 billion revenue.<\/p>\n

It expects \u2060revenue of around $2.40 billion, plus or minus 5%, for the first quarter, above estimates of $2.27 billion. The company said the quarterly forecast includes expected results of Celestial AI and XConn Technologies.<\/p>\n

Marvell divested its automotive ethernet business last year and completed \u200bthe \u200bacquisition of Celestial AI in a deal worth $3.25 billion, doubling \u200bdown on photonic fabrics, a technology that uses \u200clight rather than electrical signals to connect AI chips and memory chips.<\/p>\n

“We expect year-over-year revenue growth to accelerate each quarter in fiscal 2027, driven by continued strength in our data center business, with bookings continuing to grow at a record pace,” CEO Matt Murphy said in a statement.<\/p>\n

Marvell and rival Broadcom help cloud-computing companies design custom chips tailored to their data-center workloads, a fast-growing business as hyperscalers seek alternatives to Nvidia<\/a>‘s general-purpose AI processors.<\/p>\n

“Marvell’s shares \u200clike many AI-related names have underperformed the semiconductor group in \u200bthe past two quarters. We think the better-than-expected results and outlook, \u200bwhile expected, is more of a relief for \u200binvestors than confirming the near-term data center spending strength,” said Kinngai Chan, senior research analyst \u200cat Summit Insights.<\/p>\n

Broadcom on Wednesday said it expected \u200bover $100 billion in AI chip \u200bsales next year, signaling rapid share gains in a market dominated by Nvidia, which last month reported better-than-expected results for the January quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"By Jaspreet Singh March 5 (Reuters) – Marvell Technology forecast fiscal 2028 revenue above Wall Street estimates on…\n","protected":false},"author":2,"featured_media":331079,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[220,218,219,16375,8023,30055,61,152670,60,70235,30052,80,68442],"class_list":{"0":"post-331078","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-custom-chips","12":"tag-data-centers","13":"tag-estimates","14":"tag-ie","15":"tag-interconnect-solutions","16":"tag-ireland","17":"tag-marvell-technology","18":"tag-memory-chips","19":"tag-technology","20":"tag-wall-street-estimates"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/331078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=331078"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/331078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/331079"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=331078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=331078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=331078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}